Earnings Per Share

3 Months Ended

Sep. 26, 2015

11.

Earnings Per Share

Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted EPS is calculated using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased with the proceeds from the exercise of stock options under the treasury stock method.

For the three months ended September 27, 2014, the Company’s calculation of weighted-average number of common shares includes Class A and Class B common stock. All shares of Class A and Class B common stock entitle the holders thereof to the same rights, preferences, and privileges in respect of dividends.

A reconciliation of the numerators and denominators for the basic and diluted EPS computations is as follows:


($ in millions, except share and per share amounts)	Three months ended September 26, 2015		Three months ended September 27, 2014

Numerator:
Net income	$	12.2	$	6.6

Denominator:
Weighted-average common shares outstanding		86,885,548		86,874,101
Dilutive effect of share-based awards		767,612		726,073

Weighted-average dilutive shares outstanding		87,653,160		87,600,174

Basic earnings per share	$	0.14	$	0.08

Diluted earnings per share	$	0.14	$	0.08